NewTech Friday: Earnix – Helping insurers and banks meet elevated customer expectations
Be'eri Mart, Chief Product Officer and Head of Global Banking at Earnix, discusses the company's genesis, AI-based SaaS solutions for insurers and banks, and future innovations, including the recently announced Model Accelerator module, in an exclusive interview.
Be'eri Mart, Chief Product Officer and Head of Global Banking at Earnix, discusses the company's genesis, AI-based SaaS solutions for insurers and banks, and future innovations, including the recently announced Model Accelerator module, in an exclusive interview.
What led to the creation of Earnix?
Sammy Krikler, our Chief Insurance Officer, founded Earnix in 2001 with the vision of empowering carriers and banks to harness customer data, make optimal business decisions, and improve their performance. With a BSc in statistics and experience leading teams of mathematicians, statisticians, economists and software engineers, Sammy understood the value that data offers and the challenges of leveraging it properly. He founded Earnix to help financial services organizations execute change and continuously innovate within a highly regulated industry. By modernizing operational decision processes, such as pricing and rating, Earnix solutions help insurers and banks make data-led decisions, meet elevated customer expectations, and continually imagine what’s next.
Could you present Earnix’s offer?
Earnix is the premier provider of AI-based SaaS solutions for insurers and banks. These fully integrated mission-critical, cloud-based intelligent solutions across pricing, rating, underwriting and product personalization offer ultra-fast ROI and are designed to transform leading financial services companies by unlocking value across all facets of the business.
Operational decisions around underwriting and pricing are critical to advancing growth metrics of financial services enterprises. Adapting to rapidly changing macroeconomic factors like interest rates, inflation, supply chain issues and regulatory change requires a forward-looking approach to be prepared for what is coming, be decisive in their new strategy, and then be agile in implementing the needed change. Bridging business and IT, Earnix enables financial organizations to advance their speed to market, improve risk profiling and enhance understanding of customers.
Backed by robust data science, analytical modeling and AI capabilities, Earnix empowers holistic management of operations, and assesses the impact pricing and rating will have before the offer is put into the marketplace. Built for the future, Earnix aligns with real customer demands and market conditions regardless of how they evolve.
What's coming next for Earnix?
We recently announced Model Accelerator, a new Earnix module that further delivers on our strategy of enabling customers to bring their own models. It is designed to streamline and accelerate the process of building and incorporating advanced models in pricing, underwriting and real-time rating. Our Automatic GLM (AGLM) tool also applies machine learning techniques to automate the hardest modeling step of generalized linear models (GLM).
Our ambition is to be the AI-based innovation platform of choice for the industry, enabling insurers to compete, grow and win. Many forms of AI and machine learning result in ‘black box models’ that make it difficult to explain why a particular answer was reached. We’re focused on delivering true explainable and operational AI, harnessing advanced analytics while maintaining the explainability necessary for transparency for the business and its customers.
We also intend to expand Earnix’s reach into global markets, developing deeper partnerships with key innovators such as Guidewire.
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